Gold Snapping Out Of Recent Funk

Gold futures rose to a 1-week high Friday as the dollar continued to waver ahead of the crucial June jbs report.

August gold climbed by $5.30, or 0.4%, to settle at $1,258.80/oz, improving from a recent 7-month low.

In addition to the jobs data, traders await the minutes from the Federal Reserve's most recent meeting. At that meeting, the Fed raised rates and projected four rate increases in 2018 instead of three previously planned.

The private sector generated 177,000 jobs in June, according to payroll processor ADP.

U.S. jobless claims climbed 3,000 to 231,000 at end of June, but remained near historically low levels.